February 14, 2023

The Daily Bankruptcy News

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3-Column Formating

 

Law:

Judge sanctions Facebook and BigLaw firm $925K for ‘delay, misdirection and frivolous arguments’ • Dibson Gunn And Meta Get Hit With A Reverse Card After Trying To Drain Their Opponents’ Pockets
(DBN)

Law firms' demand slump deepened at the end of 2022. Is a rebound coming?
(DBN)

Despite Dire Predictions About The Legal Industry, Revenue Is Up
(DBN)

Another Biglaw Firm Institutes A 'Reduction In Force,' Laying Off Attorneys And Staff
(DBN)

Restructuring Partner Geoffrey King Joins King & Spalding in Chicago
(DBN)

Boies, co-counsel move to grab control of all private FTX cases
(DBN)

Big Law Operating Model Threatened in Baker McKenzie Mine Case
(DBN)

AI Won't Replace All Lawyers... Just The Lazy Ones
(DBN)

Stress and overwork linked to lawyers' suicidal thoughts, study says
(DBN)

Former BigLaw partner is sentenced to 2 years in prison for cyberstalking former colleagues • Ex-K&L Gates Partner Gets Prison Time for Stalking Colleagues
(DBN)

Biglaw Firm Investigating Partner's Alleged Bullying
(DBN)

This Biglaw Firm Is Using Its Robust Wellness Programs As A Recruiting Tool
(DBN)

Elected court clerk says she was wrongly ousted over 'unintentional rear-end dial'
(DBN)

Citing lack of lawyers, public defenders in this state ask to let law grads work before bar admission
(DBN)

Can You Zealously Defend Someone You Virulently Hate? This Massachusetts Court Has To Provide An Answer
(DBN)

Video shows Alex Murdaugh next to bodies of wife and son — while pointing blame elsewhere
(DBN)

Parts of Trump Georgia grand jury report on election meddling to be released this week • Atlanta judge orders partial release of Trump 2020 election investigation report • Trump Grand Jury Says Witnesses May Have Lied Under Oath • Writing is on the Wall for Trump in Georgia
(DBN)

Documentary: The Real Rudy Giuliani
(DBN)

Proud Boy expected to go face-to-face with FBI agent he allegedly menaced in Jan. 6 case
(DBN)

Donald Trump Tries To Bone Discovery With Late Offer Of DNA In Carroll Defamation Case
(DBN)

Lawyer says Trump used ‘Classified Evening Summary’ empty folder to block light in bedroom at night
(DBN)

National Archives, Smithsonian museum sued after visitors told to remove ‘pro-life’ clothing
(DBN)

Truck driver detained after reports multiple pedestrians struck in Brooklyn ‘rampage’ • U-Haul ‘rampage’ as driver plows into New Yorkers, tells cops: ‘Shoot me. I’m not stopping’
(DBN)

Husband found guilty of murdering wife with 19-inch butcher knife because 'she would never shut up' after just 40 minutes of jury deliberations: Prosecutors
(DBN)

Three die in mass shooting at Michigan university • Suspect dead, 3 killed, 5 injured in Michigan State shooting: What we know
(DBN)

Dad shot 'number of times' with rifle in 'broad daylight' after confronting man who called his baby 'stupid' online: Prosecutor
(DBN)

“It Could End Abortion in America”: Two Tiny Towns At the Center of the Abortion Wars
(DBN)

Ransomware Attacks on Industrial Firms Increased by 87% in 2022
(DBN)

______________

Judges:

BK WD TX: Shari Robinson Selected as Bankruptcy Judge
(DBN)

Alito, Kagan Top Justices in Supreme Court Recusal ‘Black Box’
(DBN)

The Supreme Court thinks it’s special. It’s not.
(DBN)

Trump’s Supreme Court Picks Are Not Quite What You Think
(DBN)

Thousands of J&J talc lawsuits in New Jersey get new judge
(DBN)

7 judges on 5th Circuit question ‘perpetual funding’ of government programs; is Social Security at risk?
(DBN)

Disciplinary panel tosses complaint against state Supreme Court justice who said Trump lawyer was trying to 'overturn this election so that your king can stay in power'
(DBN)

Senate confirms 3rd Circuit's first Asian American judge
(DBN)

______________

Wall Street:

Stock futures inch higher as investors prepare for latest inflation data
(DBN)

What Layoffs? Top Wall Street Traders Score Giant Paydays
(DBN)

The stock market's risk-reward is as bad as it's been during this bear market as the Fed keeps hiking into an earnings recession, Morgan Stanley says
(DBN)

Larry Summers tells investors to brace for turbulence as Fed and inflation reality comes crashing in
(DBN)

The stock market rally of 2023 is losing steam - the Nasdaq and S&P 500 just notched their worst weekly runs in nearly 2 months
(DBN)

Markets have whiplash as inflation cools, but jobs remain strong
(DBN)

BofA Survey Shows Investors Don’t Expect the Stock Rally to Last
(DBN)

______________

Layoffs:

Twilio to lay off about 1,500 employees, or 17% of its workforce
(DBN)

Layoffs take their toll on tech's most interesting projects
(DBN)

Ford to cut 3,800 jobs in Europe in shift to electric vehicle production
(DBN)

Former Bed Bath & Beyond Employees Receive Severance After Delays
(DBN)

Roomba to Fire 7% of Workforce
(DBN)

Showtime Lays Off Nearly 120 Employees
(DBN)

Amazon subsidiary Zappos lays off around 20%
(DBN)

______________

Autos:

Super Bowl attack ad shows a Tesla slamming into 2 child-size mannequins and a stroller
(DBN)

Tesla faces a $7.5 billion ultimatum: Open up its charging network to rivals or be locked out of Biden's EV subsidies, report says
(DBN)

____________

Healthcare:

Health Care CHOW in Bankruptcy Sales
(DBN)

Somehow, the Science on Masks Still Isn’t Settled
(DBN)

A biotech company that once claimed to have a 'cure' for COVID-19 just filed for bankruptcy, sending shares plunging 61%
(DBN)

Biden’s push to ban noncompete agreements could have big implications for health care
(DBN)

CDC says teen girls are caught in an extreme wave of sadness and violence
(DBN)

____________

Pharma:

Hindenburg-Target Sorrento Therapeutics Files for Bankruptcy
(DBN)

Nearly $50,000 a week for a cancer drug? A man worries about bankrupting his family
(DBN)

Pharma Returns Slump As Post-Pandemic Realities Set In, Deloitte Report Says
(DBN)

____________

Student Debt:

In a pair of challenges to student-debt relief, big questions about agency authority and the right to sue
(DBN)

____________

Labor:

Tesla Workers Launch Union Campaign in New York
(DBN)

____________

Television:

Majority of Americans Have Now Cut Cable
(DBN)

____________

Sports:

SBJ Media: Bankruptcy? What bankruptcy?
(DBN)

____________

Economy:

New inflation warning is coming from the supply chain
(DBN)

Inflation report due Tuesday has the potential to deliver some bad news
(DBN)

Treasury yields fall as investors await consumer inflation data
(DBN)

‘Fed is not your friend’: Wells Fargo delivers warning ahead of CPI report
(DBN)

U.S. inflation is likely ‘far stickier’ and could last a decade, Bill Smead says
(DBN)

Biden Will Name Fed’s Lael Brainard as His Top Economic Adviser
(DBN)

‘Think of the unthinkable’: IMF chief warns world is a very different place after crises like Covid
(DBN)

What consumers expect on inflation
(DBN)

Inflation may not recede in a straight line
(DBN)

The mystery of the disappearing vacation day
(DBN)

U.S. Companies Face More Pain As Expected 'earnings Recession' Looms
(DBN)

Women are driving the labor market’s post-pandemic recovery
(DBN)

McCarthy leans on 'five families' as Republicans plot debt-limit tactics
(DBN)

Remote work ticked up in January, and it could be a sign of the future of WFH
(DBN)

Three-in-Four London Staff Would Quit Instead of Giving Up WFH
(DBN)

From consciously child-free influencers, to online communities for people who’ve decided against having kids, the no-kids movement is booming – but so is the backlash.
(DBN)

$500 a Month, No Strings: Chicago Experiments With Guaranteed Income
(DBN)

Bernie Sanders, Elizabeth Warren, and other Democrats are once again trying to give retirees an additional $2,400 in their Social Security checks
(DBN)

Are we on the brink of a corporate credit crisis?
(DBN)

Republicans’ FairTax proposal is not fair
(DBN)

Russia Did Most Oil Drilling in a Decade Even as Sanctions Hit • Banks With Russia Ties Targeted by US Treasury Whistleblowers • Moscow's decades-old gas ties with Europe lie in ruins
(DBN)

US Debt Clock
(DBN)

World Debt Clock
(DBN)

How People Really Live
(DBN)

______________

Real Estate:

15 U.S. cities where home prices are growing the fastest
(DBN)

Some renters aren't getting a break from falling housing prices
(DBN)

Demographics for Housing are not as Favorable as Projected 3 Years Ago
(DBN)

Housing February 13th Weekly Update: Inventory Decreased 3.0% Week-over-week
(DBN)

Rock Hill mayor: Failed Panthers facility to be torn down this week
(DBN)

Brookfield defaults on $784M on loans connected to DTLA office towers
(DBN)

Starwood faces Chicago mall challenge again
(DBN)

____________

Oil/Gas:

Oil Drops on US Plan to Sell More Oil From Strategic Reserve
(DBN)

Naftogaz creditors ready to talk but frustrated after latest offer
(DBN)

China’s Wind and Solar Are Now Almost Enough to Power Every Home
(DBN)

____________

Movie Theaters:

Cineworld shares jump on reports of takeover offer from Vue
(DBN)

____________

Tech:

A Jewish congressman says Twitter has become a 'hate-filled playground for Nazis and antisemites'
(DBN)

Elon Musk will take away Twitter blue ticks from people who have not paid for them
(DBN)

TikTokers are roasting McDonald's hilarious drive-thru AI order fails — and it shows that robots won't take over restaurants any time soon
(DBN)

The tech meltdown comes for Gen Z
(DBN)

____________

Personal Finance:

Avoid these 3 phrases in a job interview that make you look ‘weak,’ says CEO
(DBN)

37% of borrowers don’t know this trick to pay down credit card debt
(DBN)

Deep debt is a dating obstacle: survey
(DBN)

____________

Cannabis:

Court Allows Cannabis-Related Company to Liquidate Stock in Bankruptcy
(DBN)

Illegality Doctrine Rejected in Legal Cannabis Patent Case, Confirming Patent Enforceability
(DBN)

____________

Crypto:

Sam Bankman-Fried’s Real Victims Aren’t in Crypto • Promoting FTX was their side hustle. Now they’re left to pick up the pieces • Bankman-Fried’s Prosecutors Raise New Concerns Over Internet Use • Sam Bankman Fried used a VPN, raising 'potential concerns' he may have accessed crypto exchanges or the dark web. His lawyers say he was just streaming the Super Bowl. • US Judge Approves Removal of FTX Turkish Units From Bankruptcy Case • FTX promised students in Africa up to 40% commission for getting their friends to trade on the now-bankrupt crypto exchange • Judge Halts SEC, CFTC Cases Against Bankman-Fried Until Criminal Trial Concludes
(DBN)

The Fed is bearing down on crypto's on-ramps
(DBN)

Circle blew the whistle on Binance reserves to NYDFS: Report
(DBN)

There was only one crypto ad at the Super Bowl this year
(DBN)

New York Regulator Orders Shutdown Of Major Stablecoin
(DBN)

Binance Withdrawals Surge as Paxos-BUSD Drama Weighs on the Exchange
(DBN)

Crypto markets on edge as U.S. regulatory crackdown on industry intensifies • US Regulatory Crackdown Subdues Crypto Markets Ahead of Key Inflation Data
(DBN)

___________

Retailing:

Discount Retailer Tuesday Morning Files for Bankruptcy Again
(DBN)

____________

Politics:

Donald Trump Embraces Voting Measure He Dismissed as Fraudulent
(DBN)

Pentagon has still not recovered debris from three objects shot down at weekend • Chinese balloon sensors recovered from ocean, says US • NORAD Commander Doesn't Rule Out Aliens • White House: No signs of ‘aliens or extraterrestrial activity’ with shot-down objects • China’s spy balloon: What really happened? • Former NORAD official: Adversaries might be testing our systems with aerial objects • US shot down objects because of possible surveillance capabilities • New Hotspot Revealed for China’s Army of Spy Balloons • US reveals more details on flying ‘objects’ as questions swirl • US and Canada Scramble to Recover UFOs Shot Down Over Weekend • U.S.-China Balloon Dispute Widens Amid Mystery Airspace Intrusions • The Simple Explanation for All These Flying Objects • Here’s why mysterious flying objects are suddenly popping up all over the place, according to the military command that’s been shooting them down • White House offers little intel on objects shot in sky as lawmakers and public ask for answers • White House announces interagency team to address 'unidentified aerial objects'
(DBN)

Biden dismisses scandal-plagued Capitol manager
(DBN)

Biden escalates fight over Social Security and Medicare, frustrating Republicans
(DBN)

George Santos’ Disappearing Expenses Included Pricey Sushi, Uber Rides
(DBN)

Republicans call Fauci, top Biden officials to testify as COVID origins investigation heats up
(DBN)

DeSantis Big Donors Under Fire for Hypocrisy
(DBN)

____________

Pensions:

Time Bomb Of Public Pension Funding Ticks Louder
(DBN)

____________

Coal:

US Coal Power Refuses to Die
(DBN)

____________

New Bankruptcy Opinions
(5 new opinions today - DBN)

Bankruptcy Court Web/Pacer Site Directory

Recent Ch. 11 Filings (24 new filings today)
(DBN)

Recent Ch. 11 Adversary Proceeding Filings (3 new filings today)
(DBN)

Bankruptcy Code (html) - Bankruptcy Code (pdf) • Prior BK Codes (pick year from list) - Bankruptcy Rules
(large downloads)

UCLA-LoPucki Bankruptcy Research Database
(DBN)

Chapter 11 Bankruptcy Case Studies
(DBN)

Bankruptcy Rules:

National Bankruptcy Conference Letter to Rules Committee re: Proposed Amendments to Bankruptcy Rules
(DBN)

____________

Mass Torts:

Clergy Sex Abuse Suits Could Bankrupt Diocese in California
(DBN)

Bankruptcy and 'equity': Can US dioceses do better?
(DBN)

J&J talc unit faces bankruptcy judge after tactic rejected
(DBN)

____________

Bankruptcy Strategy:

It’s Going To Rain Eventually, So Why Not Plan Now?
(DBN)

The Third Circuit Rejects Texas Two-Step Bankruptcy Strategy: A Funding Agreement With Affiliates Made The Debtor Too Financially Sound To Seek Bankruptcy Relief
(DBN)

____________

Assumption:

Denial of Assumption of Pre-Bankruptcy Workout Agreement Demonstrates How Settlement Value Can Change with Time and Circumstances
(DBN)

____________

Bankruptcy Research:

Debtor’s Prison in the Neoliberal State: 'Debtfare' and the Cultural Logics of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
(DBN)

Stigma, Prestige and the Cultural Context of Debt: a Critical Analysis of the Bankruptcy Judge’s Non-Article III Status
(DBN)

____________

Aviation:

No Double Dipping – Avianca Bankruptcy Court Demands that Foreign Creditors Drop Foreign Enforcement Proceedings at Risk of Having Bankruptcy Claims Disallowed
(DBN)

Every passenger's worst nightmare: United Airlines flight from Hawaii to San Fran nose-dived 1,400ft during epic storm and came within 775ft of the Pacific in terrifying 45-second ordeal
(DBN)

____________

Corporate Governance:

Blue-chip companies brace for new assaults by activist investors
(DBN)

____________

Education:

College Board accuses Florida education department of slander • Florida Straight Up Lied About AP African-American Studies Course, College Board Says
(DBN)

The Plan Was Always to Kill Public Schools
(DBN)

____________

Ride Hailing:

Amazon’s Zoox robotaxi now giving rides to employees on public roads in California
(DBN)

____________

Sovereigns:

China, U.S. To Participate In First Meeting Of New Debt Roundtable On Feb. 17
(DBN)

India Says China Should Take Losses in Poor-Nation Debt Rework
(DBN)

Ghana bilateral lenders in talks to form official creditor committee • Ghana Domestic Debt-Swap Offer Achieves More Than 80% Acceptance • Tullow Oil Disputes $387 Million of Ghana Tax Assessments
(DBN)

World Bank Urges Egypt to Loosen State Grip, Come Clean on Debt
(DBN)

____________

UK:

Economic Challenges Mount For UK Steel
(DBN)

Council tax: Millions facing 5% increases from April • Most top-tier English councils to raise council tax by maximum permitted • Families facing biggest council tax rise ever as Britons fear 'being priced out of life'
(DBN)

UK Productivity Malaise Continues With Anemic Growth in 2022
(DBN)

UK Wages Rise More Than Expected in Added Sign of Inflation
(DBN)

Students Seeking Jobs Drive Record Net Increase in UK Workforce
(DBN)

Scotland’s Employment Rate Jumps to the Highest on Record
(DBN)

Britain Loses 2.5 Million Days to Worst Strikes Since 1990
(DBN)

____________

EU:

Europe is looking to tackle sky-high debt loads after signs it will dodge a recession
(DBN)

EU Energy Crisis Bill Nears €800 Billion
(DBN)

More Than Half Of Europe’s Electricity Comes From Clean Energy Sources
(DBN)

____________

Russia:

Ukraine plots post-war rebuilding effort with JPMorgan Chase as economic advisor
(DBN)

Senior Biden official says the US can't keep doing 'anything and everything' for Ukraine in the war
(DBN)

United States tells citizens: Leave Russia immediately
(DBN)

Russians abandon wartime Russia in historic exodus
(DBN)

Russians lose dozens of armored vehicles in Ukrainian ambush, video shows
(DBN)

Himars strike wipes out Russian separatists’ HQ in strategic Ukrainian town
(DBN)

Russia tightens a claw around Bakhmut, as Wagner fighters claim another village.
(DBN)

Russia planning a coup in Moldova, says President Maia Sandu
(DBN)

The migrants forced to fight Russia's war
(DBN)

____________

Turkey:

Turkey-Syria reconstruction costs to come to ‘billions of dollars,’ World Bank says
(DBN)

____________

MENA:

Netanyahu Judicial Overhaul Sparks Huge Protests in Israel
(DBN)

US Deeply Troubled by New West Bank Settlements
(DBN)

____________

India:

Court junks Nirav Modi sister's plea for ED intervention in US bankruptcy matter
(DBN)

Adani Rout Rattles Confidence in Local Insurer Assets, Bain Says • Adani’s Flagship Firm Swings to Profit Amid Short Seller Attack
(DBN)

____________

Mexico:

Cartel Violence Is Getting Out of Control in Mexico’s Tulum Resort Area
(DBN)

____________

France:

France grants loan to Eramet's SLN nickel unit to avert collapse
(DBN)

____________

Australia:

Unfair Preferences Demystified
(DBN)

Why so many building companies are going broke across Australia
(DBN)

'Bankrupt' influencer reveals her car was written off a few months ago
(DBN)

____________

Finland:

Finland Entered Recession in Late 2022, Flash Estimate Indicates
(DBN)

____________

Philippines:

Stubborn Philippine Inflation Fuels Higher for Longer Rate Bets
(DBN)

____________


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